Handling pricing and delay objections

Guest post by: Bob Hazell
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Handling pricing and delay objections - By Bob Hazell

To handle objections properly we need to do three things:
1.Understand it
2.Soften it by agreement
3.Overcome or Outweigh it

Understanding Objections

-Listen to it carefully, and don't interrupt.
-Repeat it back in our own words "So what you're saying is...."
-Dig below the surface. Let's take the pricing objection example: "So what you're saying that you feel our price is too high, is that right? Could I ask you, exactly what do you mean when you say our price is too high?" It could mean:
--It's more than they expected
--It's above their budget
--They have a lower price from someone else.
--They are using a negotiation tactic.
--They are not the decision maker.
--They need to find out more to sell it within their own business.

Can you see why we need to dig under the surface? Whatever we do, we NEVER ask "What have we got to do to get your business" That just invites them to throw a really low price at us.

Softening Objections

-"That's a good point, I'm glad you raised that"
-"I can see why you think that"
-"I used to think the same way myself"

Overcoming Objections

-Distinguish between the price and the cost. The cheapest option is rarely the best value.
-Set the objection aside: "How do you feel about what we've offered APART FROM the price?"
-Turn the objection into a close: "So what you're saying is, that if we could sort out the pricing issue you would prepare to use us. Is that right?"

Feel-Felt-Found

"I understand how you FEEL.Many of our existing customers once FELT eaxactly the same as you do, but what they have FOUND is that working with us has brought them benefit 1 and benefit 2......"and so on.

The Delay Objection.

Normally expressed as "Leave it with me, I'd like to think about it" or something similar.

"I agree that you should think about it, However, in our experience, when somebody says they would like to think about something, it normally means they are unsure on one or two points, would you agree?"

If they answer "yes", take responsibility for any lack of communication, and re-enter the sale.

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Handling pricing and delay objections - By Bob Hazell

About the Author: Bob Hazell

RSS for Bob's articles - Visit Bob's website
Get sales training online and in workshops from Advanced Training - in business since 1973. Visit http://www.sales-training-uk.uk.com for more details. Here is a recent testimonial: Hi Bob! Hope you're well, and had a good journey home from Wakefield yesterday. Thank you for a most enjoyable day. After spending 11 years with TNT and attending hundreds, yes hundreds of Sales Seminars, training courses, conferences etc. I really didn't believe you when you said at the beginning of the day that we would be learning something different. So I was pleasantly pleased when I did learn something different, how to approach a situation differently and the day did fly by. Thought you might be interested to know that I have put the techniques into practise today, whilst I have been in the office. I have had a most successful day gaining 2 accounts and generating 14 appointments for my diary next week, which I am really chuffed about. If at all possible would you please email me the telephone script you mentioned during the day, I would be most interested to put it to the test. Thank you Paula Millson That pretty much says all there is to say, doesn't it!
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